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Dec 12, 2012
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. >> the executives at aig, lehman brothers, bank of america, countrywide mortgage had nothing to do with this. this was all the government's fault. >> the government created the conditions where they did what they did, and if the government had kept a stable dollar you never would have needed this currency trading, default swaps and the like, so when you have a bad environment, people try to adjust to it, and the crazy things happen. in the 1970s, ail went from $3 to $40 a barrel and when we conquered the inflation and went back down, and we should do the same thing today. stable dollar, like 60 minutes an hour, thinking that changing minutes in an hour will help stimulate the economy, no. we need stability. >> gentlemen, you have very sufficiently filled eight minutes and i'm sure you could have filled 18 had we given them to you. >> two smart guys with two very different opinions. >> good to see you both. >> thanks. >> see you later. >> thanks for joining us. manpower survey shows businesses will continue to hire in the first quarter of next year with the fiscal cliff looming larg
. >> the executives at aig, lehman brothers, bank of america, countrywide mortgage had nothing to do with this. this was all the government's fault. >> the government created the conditions where they did what they did, and if the government had kept a stable dollar you never would have needed this currency trading, default swaps and the like, so when you have a bad environment, people try to adjust to it, and the crazy things happen. in the 1970s, ail went from $3 to $40 a barrel...
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Dec 10, 2012
12/12
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i'll let america settle it and figure it out on its own. >> all right. john, what are your clients telling you right now? jeff just said i think it was over the weekend that so many of their customers are clenched right now. that they're just waiting to see what the resolution of the fiscal cliff is that they're holding back on orders. is that the case with some of your clients as well? >> well, i think right now we haven't received the clarity of the election we were hoping for. i think both sides republicans and democrats are basically negotiating behind closed doors. hopefully i think the news over the weekend was a lot better than it had been. moving a little bit. senator corker moving as well. we had better data out of china last week. household net worth increased by $1.7 trillion which was a big number for the fed. it says the bernanke policies are working. in terms of clients what they're doing, obviously there's a lot of clouds on the horizon short-term. but longer term, it's positive. so right now towards the end of the year what we've been see
i'll let america settle it and figure it out on its own. >> all right. john, what are your clients telling you right now? jeff just said i think it was over the weekend that so many of their customers are clenched right now. that they're just waiting to see what the resolution of the fiscal cliff is that they're holding back on orders. is that the case with some of your clients as well? >> well, i think right now we haven't received the clarity of the election we were hoping for. i...
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Dec 3, 2012
12/12
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this is america. we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day after day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] one pill each morning. 24 hours. zero heartburn. a passionate belief, and the foundation on which merrill lynch has been built. today, our financial advisors lead from a new position of strength. together with bank of america, they have access to more resources than ever before. a steadfast commitment to help you achieve your financial goals in life. that's the power of the right advisor. that's merrill lynch. >>> who doesn't want a special dividend? the hits keep coming. oracle announcing it will accelerate payments on three quarters worth of dividends for investors who hold the stock as of december 14th. now about 100 companies and can counting have announced more than $22.5 billion worth of special dividends in the fourth quarter. presumably to get ahead of higher dividend taxes if the fiscal cliff deal i
this is america. we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day after day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] one pill each morning. 24 hours. zero heartburn. a passionate belief, and the foundation on which merrill lynch has been built. today, our financial advisors lead from a new position of strength. together with bank of america, they have...
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Dec 5, 2012
12/12
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it changes the debt course of america. the president has yet to lay out anything like that. >> i'll tell you what really struck me in a moment from that interview, but let me keep on with what you're saying. you have called the secretary's claim of $2 in spending cuts for every $1 in tax increases an egregious falsehood. he did say $600 billion in cuts is what is being proposed there. he said it's health care. you said he's not even tinkering with medicare. where are these cuts? >> let me respond to that. they cut providers -- again, these are the hospitals and doctors. $600 billion over ten years. that's a reduction in spending. he's not mentioning the fact that he gives away $1.2 trillion of the sequester. that whole savings that we agreed to as part of the budget control act he eliminates. in other words, that's an additional $1.2 trillion in spending over the current agreement that we're operating under today. it's a $1.2 trillion increase. so there's a net substantial increase in spending right there. and another $.5
it changes the debt course of america. the president has yet to lay out anything like that. >> i'll tell you what really struck me in a moment from that interview, but let me keep on with what you're saying. you have called the secretary's claim of $2 in spending cuts for every $1 in tax increases an egregious falsehood. he did say $600 billion in cuts is what is being proposed there. he said it's health care. you said he's not even tinkering with medicare. where are these cuts? >>...
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Dec 4, 2012
12/12
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that's what makes america great. we could use a little of that in washington, we might get the fiscal cliff resolved. >> great point to make. tom, good to have you on the program. thanks so much. >> nice to be here. >> thomas wilson joins us, the chairman and ceo of allstate. >>> up next, high-end dreams. we'll talk high-end real estate next. >>> later, sticker shock at the hospital. we're going over the fiscal cliff. will that coupled with obamacare kicking in sent your hospital bills through the roof? i'll talk with the head of one of the biggest hospital groups in the city. stay with us. back if a moment. [ male announcer ] this december, remember -- ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. since ameriprise financial was founded back in 1894, they've been committed to puttin
that's what makes america great. we could use a little of that in washington, we might get the fiscal cliff resolved. >> great point to make. tom, good to have you on the program. thanks so much. >> nice to be here. >> thomas wilson joins us, the chairman and ceo of allstate. >>> up next, high-end dreams. we'll talk high-end real estate next. >>> later, sticker shock at the hospital. we're going over the fiscal cliff. will that coupled with obamacare kicking...
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Dec 27, 2012
12/12
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the only people in america who don't think taxes should be raised on the rich are the republicans who work in this building. any time bhth speaker and the republican leader come to the president and say we've got a deal for you. the president's door is always own, and mine is, too. >> the senate is back in session today and a lot of looking backwards, not necessarily looking forwards. certainly not so concise recap of harry reid of where we've been on the negotiations and the lack thereof. spinning going on in washington and not the kind done on an exercise bicycle. eamon. >> not the senate's job to be concise, let alone the senate majority leader. never been known for that. that's not going to change, but what harry reid is saying it's their fault. we already heard from mitch mcconnell, the republican leader, it's their fault, it's the democrats. finger-pointing in washing,ton, but what i heard from speaker bain e. he said we's expecting a new proposal by the president. swu the communication is off on the capitol hill switchboard but mcconnell sounds an awful like a guy that the pres
the only people in america who don't think taxes should be raised on the rich are the republicans who work in this building. any time bhth speaker and the republican leader come to the president and say we've got a deal for you. the president's door is always own, and mine is, too. >> the senate is back in session today and a lot of looking backwards, not necessarily looking forwards. certainly not so concise recap of harry reid of where we've been on the negotiations and the lack...
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Dec 28, 2012
12/12
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simply because when you look at corporate america, the average company, bill, is generating a 16% to 17% return on equity, record free cash margins and a federal reserve that has the pedal to the metal. what you and i have talked about before repeatedly, $4 in taxes for every dollar in phantom spending cuts. that's fiscal irritation, but the health of corporate america will be what ultimately prevails. >> sounds like david has been reading your book, rick santelli. >> it does. >> big fan of rick. >> this is such a perverse world we live in, okay. let's look as what's happening. down 158 in stocks and that pushed the ten-year yield under 170, okay. >> really. let me get this straight. they can't get a deal on controlling out-of-control debt, so rates go down. i used to trade during graham/rudman and i remember when they couldn't get deficit conversations right, treasuries went down and stocks went down. oh, would i love to get back to that type of reality. >> yeah. but you had a different guy at the federal reserve at the time. >> yeah, a different guy, you know, in hindsight he was m
simply because when you look at corporate america, the average company, bill, is generating a 16% to 17% return on equity, record free cash margins and a federal reserve that has the pedal to the metal. what you and i have talked about before repeatedly, $4 in taxes for every dollar in phantom spending cuts. that's fiscal irritation, but the health of corporate america will be what ultimately prevails. >> sounds like david has been reading your book, rick santelli. >> it does....
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Dec 6, 2012
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i think that's what makes me optimistic about america because i think the next four or five years america can outperform and surprise people on the upside. >> what are you seeing in terms of business these days, ed? for example, the mortgage business. are you against taking that mortgage deduction out of the list of loopholes and exemptions that could be cut? >> yeah, i guess i have to say i think the right public policy it would be better to get a higher revenue through capping some of these deductions than raising the marginal rates. in the end, we're going to have a combination of the two, probably not raise them as much as originally thought. you know, also cap. i do think fundamentally a cap on mortgage interest deductibility would be a good public policy measure. even if that means some slow down in the mortgage volume growth. sometimes i think banking leaders have to think about what's the right thing for the country and then worry about how they make money in that rather than what the right thing is for the short term for their bank. >> so what are you seeing now in terms of mortg
i think that's what makes me optimistic about america because i think the next four or five years america can outperform and surprise people on the upside. >> what are you seeing in terms of business these days, ed? for example, the mortgage business. are you against taking that mortgage deduction out of the list of loopholes and exemptions that could be cut? >> yeah, i guess i have to say i think the right public policy it would be better to get a higher revenue through capping...
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Dec 21, 2012
12/12
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i think the energy independence in america is a huge theme going forward. there are other themes that are not dependent on the policy, as well. this obesity thing with my generation going into the diabetes year, the diabetes stocks, the handle diabetes, i think it's a very investable theme with long legs. >> steven, let me take it over to you. we had an expiration at the end of the day today. what did you see at the close? >> as you might expect, we saw enormous volume. it didn't move stocks that much. we stayed within the range of the day. 1422 is as clowe as they ever got. you did see some volatility, but nothing like we saw in the overnight futures markets. you saw enormous volume. but things did stabilize. the technology stocks, the financials, those kind of names. and it's been good, like the transports and the utilities are always safe haven. they turned up a little bit, but not so bad. it was a general risk off day, but nothing like the expected coming in. >> and where do you see conviction, steven, when you're watching all the flows and committed bu
i think the energy independence in america is a huge theme going forward. there are other themes that are not dependent on the policy, as well. this obesity thing with my generation going into the diabetes year, the diabetes stocks, the handle diabetes, i think it's a very investable theme with long legs. >> steven, let me take it over to you. we had an expiration at the end of the day today. what did you see at the close? >> as you might expect, we saw enormous volume. it didn't...